Specialty Tiers Formulary Practices
Imagine your chronic care medications becoming unaffordable overnight because your insurance company changes the Tier level on their formulary. Specialty Tiers formulary practices causes problems in access to medication. It generates an unjustified financial hardship on the most vulnerable patients impeding healthy patient outcomes. This practice allows insurance companies to charge patients up to a 100% increase in co-pays in some instances for their medicines. Putting a barrier in the patient-doctor relationship in determining and receiving proper treatment. Denying a patients full access to medications due to excessive cost, placing patients in medical jeopardy and increased costs for insurance companies in the long run, due to additional complications, lost wages and hospital visits. This stands in contrast to the purpose of health insurance as it exposes patients to the high cost of medical care.